1. Field of the Invention
The present invention relates to payment methods for goods and services, and more particularly, to a virtual payment system for the physical world and its method of use.
2. Description of the Related Art
In the physical world, a customer wanting to purchase goods or services typically visits a merchant's place of business in person. Upon selection of desired good(s) and/or service(s), the customer pays the merchant. Customary forms of payment include cash, checks, credit cards, debit cards, charge cards, prepaid cards, and direct debit. In the physical world, payment must be transmitted in person to complete a purchase transaction for the desired goods and/or services.
In the virtual world, a customer wanting to purchase goods or services typically visits a merchant's website through the Internet utilizing a computer. Upon selection of desired good(s) and/or service(s), the customer pays the merchant. Customary forms of payment in the virtual world include alternative payments, credit cards, debit cards, charge cards, prepaid cards, and direct debit. In the virtual world, payment is transmitted via the Internet to complete a purchase transaction for the desired goods and/or services.
Applicant is not aware of a virtual payment system for the physical world comprising the novel features of the present invention.